It is now known that there is a rough strong support area below, which is around $92900~$98500. However, is this wave really going to stop at $98200? Not necessarily. A rebound market is just a rebound market; it will not be a reversal market. Since it is a rebound market, there is a possibility of finding a bottom again. Therefore, in my opinion, $98200 is unlikely to be a temporary low point.

Where will the temporary low point be? I don't know. I only know that the next effective support area will likely be around 【$95500-$96500】. This is also the position I believe the price will at least reach afterwards. Will it reach this point this week? It's possible. But here it depends on the situation. If the price breaks through and stabilizes above $103000, it basically won't go down this week. If it encounters resistance and falls at $103000, and effectively breaks below the $100700 level, then a second bottom test will occur. Once the bottom test fails, it will continue to seek a bottom around 【$95500-$96500】.

Therefore, the key resistance above is $103000, and the key support below is $100700. As for today’s outlook? Personally, I believe that the main focus for today and tomorrow will be on rebounds. It’s possible to short high and long low.